Sunday, 18 October 2009

Commerzbank sees no reason for the growth of yenThe decline of Japanese retail sales in March did not have a significant impact on the yen

The decline of Japanese retail sales in March did not have a significant impact on the yen, but this week went on industrial production. In addition, on Thursday the decision will be announced at the rate of the Bank of Japan, and on Friday will be the level of inflation. According to analysts of Commerzbank, a pair of dollar / yen in the near future may remain below Y100, but with a substantial reduction in industrial production and increase the likelihood of deflation Bank of Japan may move to more aggressive measures in the policy of quantitative easing. Rumors of a possible Bank intervention in the foreign exchange market, which will increase the likelihood, if the inflation rate will be more than the expected -0.2%. In such a situation, believe in the Commerzbank, steady decline in the dollar / yen below Y100 looks unlikely. According to the bank by the end of June, a couple will return to this point, and by the end of the year rises to Y110.

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